Weekly Altcoin Price Analysis: Reaching a Local Bottom, Can They Make A New Start?
Since the beginning of the week, Litecoin’s price stood in a corridor of $3.50 - $3.80, having created a triangle on the chart. Next week the exit from this triangle is inevitable, and the direction of an exit depends only on the direction of Bitcoin’s price. However, this week Litecoin had another important event: as the Litecoin vs. Bitcoin exchange rate reached a local bottom of 0.008, having stopped its continuous falling at this level. DASH began last week pretty well, having jumped sharply from 0.06 to 0.07 on Monday. But then gradually went down to a local bottom of 0.0056, just....
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Litecoin’s price seems to have gotten stuck at the same level. Any movement is going to be extremely sluggish and painfully slow today. At the same time, the exchange rate of the LTC:BTC pair has recovered a little, having made a start from a local bottom and moved into the range of 0.0078-0.008. The previous level of support of 0.008 turned into resistance. The price of DASH grew by 10% in a day, and not just in one sharp shot, but as the beautiful ascending trend. The local maximum thus was in the area of 0.0638. Though, during the ascending movement there were some prices falling to....
Bitcoin price is currently trading at around $23,500 at the time of this writing, up over 30% from lows and 10% for the week. The recovery has brought the weekly RSI out of oversold territory after reaching historical levels. Here is why the setup could be the buy signal bulls have been waiting for, and how the Relative Strength Index currently resembles the last bear market bottom. Weekly Bitcoin RSI Recovers From Historical Oversold Conditions In technical analysis, sometimes less is more. Traders commonly fill a chart with lines or indicators, desperately seeking an edge in the market.....
Bitcoin had a larger than usual fluctuation, gaining 20% in price only to drop 20% back to the original price range, Litecoin broke through it's ceiling reaching $3.80, $4 and $4.20 all the way to a peak of $4.35, only to fall back down to $3.50 where it is now. A correction back to $3.80 is probable. The LTC/BTC pair exchange rate continues decreasing reaching 0.083-0.084. It is projected that if Bitcoin goes lower than $400 for too long Litecoin will most likely fall into a long depression.
In this episode of NewsBTC’s daily technical analysis videos, we are examining Ethereum due to how boring Bitcoin price action is. Here is an update on the top ranked altcoin. Take a look at the video below: VIDEO: Ethereum Price Analysis (ETHUSD): October 19, 2022 In addition to the video highlights listed below the video, we also analyze ETHUSD using the Ichimoku, Bollinger Bands, Moving Averages, and other technical tools. Related Reading: Bitcoin Price Action Falls Flat | BTCUSD Analysis October 18, 2022 Top Altcoin Tightens Up Ahead Of Huge Move If you thought the Bollinger....
Litecoin comes back into the upper bound of the price range of $3.50 - $3.80, following the growth of Bitcoin price which happened this morning. The LTC:BTC pair exchange rate has also found a new force and returned to the level of 0.008. Thus, short sales from the level of $3.80 are of interest. DASH however, continues to hold at the local bottom of 0.0056. Having a quite good amplitude of price moves, that reached 0.006 at the beginning of a week, helped traders to earn on purchases from the level of 0.0056 and below. It seems, that we will see the prices of 0.0056 and 0.006 much more....